Motorists will have to pay more for diesel and gasoline as oil companies implemented a hefty price increase effective Tuesday, July 11.
In separate advisories, Pilipinas Shell, Seaoil, Eastern Petroleum, Phoenix Petroleum, and Flying V announced that they will raise the price of diesel by P1.20 and gasoline by 70 centavos per liter.
The price adjustment will take effect at 6 a.m. Flying V will impose the price hike at 12 midnight.
Pilipinas Shell, Seaoil, and Flying V said they will increase the price of kerosene by 90 centavos per liter.
Last week, oil companies raised the prices of diesel by 70 centavos and gasoline by 30 centavos per liter. The price of kerosene went up by 55 centavos per liter.
Other oil companies like Petron, Caltex, Unioil, PTT Philippines, Total, and Jetti are also expected to adjust their pump prices.
“This is due to the increase in demand by the US due to the driving season, and China and the devaluation of the peso,” Melita Obillo, officer-in-charge of the Department of Energy’s Oil Industry Management Bureau (OIMB), told The Manila Times in a text message.